Senior crypto analyst Tone Vays said that a key price level will act as a breakout line for Bitcoin (BTC)’s next rally. Tone Vays expects a bearish move before bullish in BTC. Cryptocoin. com, we have compiled the details for you, let’s examine the subject together…
Tone Vays: Bitcoin (BTC) can pull back to around $54,000!
In his new analysis, Tone Vays said that he initially expected Bitcoin (BTC) to retrace to around $54,000, but that would not be the end of the uptrend. The analyst told 115,000 YouTube subscribers that he likes the fact that Bitcoin’s 128-day average is close to surpassing its 200-day average, which could bring further upside in the medium and long term.
Tone Vays says another daily green close will bring BTC very close to $64,000. This is what the analyst calls the “breaking line” for the king coin. The analyst thinks that the resistance around $66,000 is not strong enough to stop another rise. Tone Vays adds the following to his explanations on the subject:
This can get us very close to this line and I use this line as the breakout line… If we can get above this line, I see little probability that this top will hold, and once we get above this $64,000 line I will predict that we will constantly go up and up and up and up. . So while the daily chart is neutral, it is definitely bullish.
Tone Vays: I expect us to hit $100,000 by the end of December!
In September, Tone Vays correctly predicted that Bitcoin would break its all-time highs in mid-October. The next part of his forecast is for BTC to move up to six-digit levels in late December. In addition, the analyst also predicted $7,000, which is the big December crash of BTC. Tone Vays adds the following to his explanations on the subject:
Just like before, at the beginning of October or mid-October, I expect us to begin challenging previous all-time highs, and then take a massive upswing at the end of the year. As with mid-October to late December, I expect us to go from $65,000 to $100,000. That’s still my goal.